Julian Robertson Is Bullish On Visa (V) And Mastercard (MA), And He Doesn't Like Gold (GLD)
October 19, 2009 3:14 PM
Julian Robertson told the Value Investing Congress that he is very bullish on Visa (NYSE: V) and Mastercard (NYSE: MA). Robertson has been bullish on these credit card companies for awhile, but he reiterated his bullish position on Visa and Mastercard today at the Congress. Julian's comments on Visa and Mastercard did put some buying pressure on both V and MA today.
Julian Robertson also said shorting bonds is a better inflation hedge than buying gold. Thus, Robertson recommends investors buy the ProShares UltraShort 20+ Year Treasury (NYSE: TBT) and not the SPDR Gold Trust (NYSE: GLD).
Julian said gold is not a good play because it is almost at the same price as 30 yrs ago. There is no real supply/demand with gold. Julian Robertson said gold bugs are "certifiably crazy."
